USD/CAD Eyes a Break of Month-to-month Resistance

Canadian Greenback Technical Evaluation

USD/CAD – Paused Uptrend Momentum

On Nov 20, USD/CAD rallied to 1.3327 – its highest degree in six weeks. Later, the worth slipped again then settled close by 1.3300 deal with. This week, the worth has not been capable of revisit the final week’s excessive, indicating that much less patrons have been becoming a member of the market.

The Relative Power Index (RSI) remained flat above 50, indicating to a paused uptrend momentum.

USD/CAD DAILY PRICE CHART (Sep 1, 2017 – Nov 29, 2019) Zoomed Out

USD/CAD DAILY PRICE CHART (June 18– Nov 29, 2019) Zoomed In

From the every day chart, we discover on Nov 22 USD/CAD rebounded close by the low finish of present buying and selling zone 1.3256 -1.3357. Highlighting, majority of patrons continued holding their positions. This brought about the worth to rally once more eyeing a take a look at of the…

The foreign exchange market (Forex, FX, or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all aspects of buying, selling and exchanging currencies at current or determined prices.